Cannabis producers from Israel presented their niche in New York

Above all, it is possible that by 2026, the profit from the production and sale of medical marijuana will amount to 148 billion dollars. Tikun Olam USA spokesman Stephen Koenigsberg said that Israel is currently a center of excellence for medical cannabis. It’s like Switzerland for banking: the place you go to to find real experts. In 2013, Uruguay fully legalized the cannabis plant.

Above all, it is possible that by 2026, the profit from the production and sale of medical marijuana will amount to $148 billion. Tikun Olam USA spokesman Stephen Koenigsberg said that Israel is currently a center of excellence for medical cannabis. It’s like Switzerland for banking: the place you go to to find real experts.

As a result, sponsors of iCAN Connect include the New York-Israel Chamber of Commerce, the American-Israel Cannabis Association, the Israel Economic Mission in New York, Tress Capital and Vanguard Scientific Systems. By the way, marijuana became legalized in Israel in the 1990s, and in New York State the decriminalization of this substance took place in late July 2019.

Israel will become a new competitor in the cannabis market

As an example, the Knesset (Israeli parliament) made an important decision and approved the export of medical cannabis. This decision opens new avenues for Israel in the global economic environment. Now Israel will be able to compete in the medical cannabis market, which will amount to $33 billion in five years.

Also, Minister of Public Security Gilad Erdan spoke positively about this decision in his Twitter account. From the very beginning, I have supported the export of medical cannabis and the need to make it available to all who need it. Now we can start. The CEO of iCAN: Israel-Kannabis said that this industry will be as important as high technology.

Marijuana legalization law. Home use

Later, on April 1, a law came into force in Israel that partially legalizes the use of marijuana. It will no longer be a crime to keep a small amount of marijuana at home. If the police will find someone using marijuana in a public place, he or she will bear administrative rather than criminal responsibility. The penalty for the first violation is $275. For the second amount, they will double it.

In brief, criminal prosecution can start if the law person broke the law three times. In this case, the offender can pay a fine, refuse to carry a weapon or a driver’s license. The new rules do not apply to military personnel and prisoners, who continue to face criminal responsibility. Juvenile offenders will be sent to rehabilitation.

Over there, the new policy will gradually implement over a period of three years. Legislators will consider it’s results who will make further decisions on reforms.

Marijuana legalization in Israel

Generally, since 1994, marijuana has been permitted in Israel, with the permission of a physician, for people suffering from cancer, Parkinson’s disease, multiple sclerosis, Crohn’s disease, chronic pain or post-traumatic stress disorder. The country has become a world leader in the study of medical marijuana.

Likewise, in 2017, the Government of Israel approved a proposal to decriminalize the use of cannabis plant. Israel became the first country in the Middle East to decriminalize the use of cannabis plant.

On April 1, a law came into force in Israel that partially legalizes the use of marijuana. (Source)

Where else is marijuana legal?

Thus, marijuana is a popular use for medical purposes in 25 US states. One of five Americans can buy medical cannabis legally. Recreational use has been legalized in California, Washington, D.C., Oregon, Massachusetts, Nevada, Colorado, Maine, Alaska and the District of Columbia.

In 2013, Uruguay fully legalized the cannabis plant. Canada followed their example in 2018. The medical cannabis plant is legal in Denmark, Australia, Croatia, Macedonia, Romania, New Zealand, Puerto Rico, Turkey, and several other countries

First published in jewishnews a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Hemp.im assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Hemp.im is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.

Desmond O’Flynn believes in minimalism and the power of beer. As a young reporter for some of the largest national publications, he has lived in the world of finance and investing for nearly three decades. He has since included world politics and the global economy in his portfolio. He also writes about entrepreneurs and small businesses, as well as innovation in fintech, gambling, and cannabis industries.

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